Deal making frenzy grips Wall Street

May 19 - Stocks rallied as investors wade through a number of deals include AT&T's offer to purchase DirecTV, Google's reported talks with Twitch, and Pfizer's rebuffed attempt to buy AstraZeneca; U.S. accuses China of cyber spying. Conway G. Gittens reports.

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Merger activity topping the corporate headlines it's been rumored for weeks but a deal between eighteenth -- and DirecTV. It's finally a reality. The number two wireless providers offering to -- the number one satellite TV provider to create America's second largest pay TV provider. The tie -- still put the two behind proposed merger of Comcast and Time Warner Cable. The 48 and a half billion dollar deal combines broadband fixed line telephone mobile and TV all under one roof. But it the last two that's really driving this marriage that's Forrester Research principal analyst Jim nail. -- the eighteenth tee and DirecTV Bolton to lower. Speculation about what the deal could mean for DirecTV rival -- didn't help out that stock Comcast and Time Warner Cable both moved higher. Google which already owns YouTube within talked about video streaming service which. According to the Wall Street Journal now the company would comment on the report as of Google up roughly 2% on the day. But five that still have not found the right prescription to map up AstraZeneca. The US drug makers take it or leave it higher 118 billion dollar offer reports British peer. Left on the table AstraZeneca investors were upset leading to that stock's worst day on record by the shares ended up. But barely. A little bit of earnings news to digest the unusually cold and stormy winter -- -- lead to great quarterly results -- Campbell Soup. Hurt by lower priced competition sending that stock down by more than 2%. Taking all that news into -- Wall Street finished higher led by a rebound in tech shares. On the international front the US is accusing China of cyber corporate espionage. The Department of Justice announced -- Chinese military officers were charged with hacking it to several US companies China denies those charges. Finally European stocks mixed as investors awaited a landmark tax -- guilty plea on Swiss bank Credit Suisse.

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